CONFIDENTIAL
traditional compensation scheme would cost between £60
million and £205 million.)
8.
One way of avoiding open-ended commitment would be to
state that the compensation was based on 1991 Hong Kong salary levels and would be paid in sterling at the average
exchange rate for 1991. The value thus derived could then
be uprated annually to take account of the movement of the
RPI.
PJZAXV
CONFIDENTIAL
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